Brooks Macdonald profits up as MPS inflows rise 13%

The group, which bought advice businesses Lift Financial, CST Wealth Management and Lucas Fettes during the period, said it had delivered a "solid set of results" which showed that funds under management (FUM) were up 0.7% to £15.7bn. It said gross inflows were £1.1bn and included a 13% MPS increase with net inflows of £288m and total FUM at 31 December reaching almost £5.8bn for the MPS arm. However, gross outflows were "elevated" during the period at £1.4bn "particularly in BPS, driven by the prevailing backdrop of market volatility and uncertainty leading up to the Budget affecting...